SIB LAP Power

Turn Your Property into Business Catalyst

Make the most of your property’s potential with South Indian Bank’s LAP Power Loan. Whether you need funds for personal expenses, debt consolidation, or balance transfer, SIB LAP Power offers flexible loan options with attractive interest rates, extended repayment tenures, and personalised customer support to suit your needs.

Benefits of SIB LAP Power

High Loan Amount-Avail loans starting from Rs. 10 Lakhs based on your property value and eligibility
Flexible Loan Options-Choose from Overdraft, Dropline Overdraft, or Term Loan variants based on your business needs
Wide Range of Purposes-Use the loan for business expansion, balance transfer, or debt consolidation
Flexible Tenure-Repay comfortably with a flexible tenure ranging from 3 to 15 year
Available to Various Business Entities-Loan available for Individuals, HUFs, Proprietorships, Partnerships, LLPs, Companies, Trusts, and Societies
Residential Property Accepted-Secure funding by pledging residential property located within municipal or corporation limits (or select panchayat areas)
Quick Processing & Disbursal-Fast approval and processing for eligible applicants with complete documentation
Balance Transfer Option-Facility to transfer existing loans or limits from other banks for better terms

Criteria	Details
Age	Minimum 21 years Maximum 70 years at loan maturity
Eligible Entities:	Individuals / HUFs (with business proof) Proprietorship concerns Partnership firms LLPs Private & Public Limited Companies Trusts & Societies
Loan Tenure	1 year to 15 years

Category	Details
Interest Rates	Check Interest Rates
Additional Charges	Click here for Service Charges

To ensure a smooth and hassle-free loan application process, applicants are required to provide the following documents based on their category

Document Type	Details
General Documents for All Applicants	KYC Documents: PAN Card, Aadhaar Card, and passport- sized photographs Property Documents: Title deed, possession certificate, encumbrance certificate, location sketch, and tax-paid receipts
Additional Documents Based on Applicant Type
Salaried Class	Last 3 month's salary slips Last 6 month's bank statements
Self-employed Class	Recent financial statements Last 6 month's bank statements
For Business /self-employed class	2 years’ IT returns with computation sheet Audited financials directly fetched or scanned copy GST turnover (Online fetched for GST based assessment)
NRI-Salaried	Average of 12 months’ inward remittance per month in NRE/NRO account or in the account of the spouse and Salary Slips abroad for three months with account credit statement reflecting the salary credits*
NRI-Business	Past 3 years’ financial statements, signed by the competent authority, should be collected as a supporting document along with other applicable documents and it should be ensured from the financials that there is net profit consistently for the last three years.
Pensioners	Last 3 month's pension statements
General	ITR for the last 2 years with computation sheet

Having all the necessary documents ready in advance can help expedite the approval process and ensure a seamless experience

Share your details with us and our representative will connect with you.

Visit your nearest South Indian Bank branch
Discuss your requirements with a relationship manager
Submit the necessary documents
Complete the formalities for processing

Frequently Asked Questions

Get answers to your queries

Only residential properties located in Corporation or Municipality areas are accepted. Panchayat plots in prime locations under 30 cents may also be considered.

Yes, balance transfer of existing loans is allowed.

The spouse of the property owner must join as guarantor. If unavailable, a close relative must be provided as guarantor.

Yes, the product supports debt consolidation as one of its permitted purposes.

Overdraft facilities need to be renewed annually for continued usage.

Yes, penal interest of 2% p.a. applies to the defaulted amount for the defaulted period.